Lifecare ASA — Investor Presentation 2021

Sep 7, 2021

Lifecare investor presentation

September 2021

Disclaimer

The information in this presentation has been prepared by Lifecare (the "Company"). This presentation does not constitute a recommendation regarding any securities of the Company. By accepting to attend this presentation and/or receive this information, you agree to be bound by the following limitations and provisions:

This presentation has been prepared based on information available as of the date hereof. No representation or warranty (expressor implied) is made as to, and no reliance should be placed on, any information, including projections, estimates, targets and opinions, contained herein, and no liability whatsoever is accepted as to any errors, omissions or misstatements contained herein, and, accordingly, none of the Company, or any advisor or any such persons' officers or employees accepts any liability whatsoever arising directly or indirectly from the use of this presentation. The Company is in its early stages of development and is considered to be a venture company. Venture companies in general entail a high degree of risk. It is highly recommended that potential investors seek further advice of risks associated with venture investments in general, and in particular specifics risks for the Company. The information herein is subject to change, completion, supplements or amendments without notice. By relying on this presentation, you accept the risk that the presentation does not cover matters that could have been disclosed, have a more comprehensive investigation been carried out.

The presentation is based on the economic, regulatory, market and other conditions as in effect on the date hereof and may contain certain forward-looking statements. By their nature, forward-looking statements involve risk and uncertainty because they reflect the Company's current expectations and assumptions as to future events and circumstances that may not prove accurate. It should be understood that subsequent developments may affect the information contained in this document, which neither the Company nor its advisors are under an obligation to update, revise or affirm.

This complete presentation is for informational purposes only and does not constitute an offer to sell shares in of the company. This presentation is not a prospectus, disclosure document or offering document and does not purport to be complete.

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The presentation and any purported liability in connection with it is subject to Norwegian law and is subject to the exclusive jurisdiction of the Norwegian courts.

Content overview

Investment highlights

Why invest in Lifecare?

Risk reducing factor

Lifecares Sencell is a novel and revolutionary continued glucose monitoring device at the size of a grain of rice. Our proprietary osmotic sensing technology will help people with diabetes to live a normal life with a reduced risk profile.

Diabetes

• Chronic disease occurs either when the pancreas does not produce enough insulin or when the body cannot effectively use the insulin it produces
• 7th leading cause of death by 2030
• Risk of health complications such as heart disease, stroke, blindness, amputation, nephropathy and cardiac failure.

Diabetes market growing

✓ 10% of global health expenditure is spent on diabetes - USD 760 billion

✓ 1 in 2 adults with diabetes are undiagnosed - 232 million people

Source: International Diabetes Federation

Glucose measurement market growing

• The Continuous Glucose Monitoring market 2019 was \$3.8 billion, estimated CAGR of 26% 2020-2025

• The Blood Glucose Meters market 2020 was \$13.7 billion, estimated CAGR of 10% 2020-2025

Source: www.marketdataforecast.com, www.mordorintelligence.com

Content overview

Investment highlights

Investment highlights

THE OPPORTUNITY TO TAKE CONTROL OF YOUR BLOOD SUGAR

WELL PROTECTED AND MATURE TECHNOLOGY

MARKET POTENTIAL AS WELL AS SYNERGY/PARTNERING POTENTIAL

Take control – take care

Inject and forget

Long term use and no body worn devices

Convenient and simple in use

Lower cost of care

Maintain control

Actionable data Higher sensitivity Improved quality of life

Sencell - a contributor to solve the diabetes pandemic

Accurate	Osmotic pressure correlates 100% with glucose levels
User friendly	No calibration needed, inject and forget
Invisible	Miniature sensor injected under the skin
Continous measurement	Real time measurement of glucose levels through osmotic pressure technology

Technology - accurate and user friendly

Technology – invisible

Enabled by precise nanoscale 3D-printing

Technology – accurate and continuous

Overview in electron microscope: Osmotic pressure sensors - sensor element printed to electrode by a controlled 3d nanoprinting process

Technology – Sencell model

Small body device containing pressure membrane, active chamber, pressure sensor, microelectronics and wireless communication

Core technology well protected by patents

Double membrane patent 2004-2024	• Composition of membranes • A pressure sensor with a chamber on each side, where the two chambers have individual semi permeable membranes • Valid 2024
Augmented osmotic pressure patent 2010-2030	• Apparatus for measuring augmented osmotic pressure • Patent valid 2030 • Approved EPO
Chemistry	• Active fluid composition and method of production and method of production of active fluid, which can be used in a sensor for measurement of glucose concentrations in fluids • Pending
Dual sensor patent 2018-2038	• Implantable sensor with two chambers, each with a pressure sensor • Valid 2038

Major milestones

✓ In-vitro testing of basic technology: osmotic pressure, chemistry

✓ Pre-clinical tests with basic technology: single chamber measurement

✓ Pre-Clinical tests with improved technology: dual chamber measurement

✓ Miniaturization of sensing element – shrinking the product to a grain of rice

Value-driven future milestones

Initiating product development

Lifecare Sencell

Lifecare Nanobiosensors

Contract development for third parties

Lifecare potential

Leveraging Lifecare's validated technology platform for maximum value generation

Technical development Lab acquired by Lifecare Sept. 2021

Aim to accelerate and expand the pipeline

Chemistry research

Seek strategic partnerships to complement our strengths

Artificial pancreas

Product development agreement Sanofi

Sanofi-Avenis Group sponsor the development program for miniaturizing the Sencell Glucose sensor with funding of EUR 290.000 based on completion of defined development phases

The Development Agreement is based on a robust evaluation and due diligence process from Sanofi scientists and business department, including a detailed review of the product development plan and the commercial aspects of Lifecare's Sencell Glucose relative to Sanofi's product portfolio and the competitive landscape

Sanofi is entitled to a "first right of refusal" to negotiate an exclusive and worldwide distribution license of Lifecare technology and IP for glucose monitoring. The finalization of pilot study in humans approved by BfArM and planned for H1 2022 is the next phase of the Development Agreement

FORGETDIABETES - A radically new approach to diabetes treatment

Lifecare is the selected partner and the only commercial partner in this innovative, international project

enabling intraperitoneal insulin delivery

Create a bionic

pancreas

Uniquely capable to exploit physiological glucose sensing and hormones delivery route

Optimising glycaemic control

restoring glucose regulation

Goes for patients with diabetes as well as healthy individuals

FORGETDIABETES - A radically new approach to diabetes treatment

www.forgetdiabetes.eu

Multiple potential products

Pipeline has potentially multiple therapeutic areas

Chemistry giving the opportunity to expand product areas in combination with Sencell

Several patents in preparation

Content overview

Investment highlights

Lifecare highly skilled and experienced team

World class expertise in diabetes medicine and technology

Joacim Holter CEO

• LL.M from the University of Bergen, Norway
• Chairman and member of the Lifecare Board of Directors from 2011 to 2020.

Prof. Andreas Pfützner CSO

• Professor for internal medicine and laboratory medicine at DTMD University Luxembourg.
• Over 30 years of pharmaceutical and device development experience within diabetes technology.

Prof. David Klonoff Scientific Advisory Board Chairman

• Clinical professor of Medicine, UCSF, USA.
• Over 35 years of academic and professional experience dedicated to research on diabetes and diabetes technology.

Prof. Lutz Heinemann Board of Directors Scientific Advisory Board

• Professor at the University of Düsseldorf, Germany.
• Over 30 years of research and device development experience within diabetes technology.

Bo Petersson Board of Directors

• Ph.D. in Chemistry, The Technical University of Denmark.
• Over 25 years of work experience in developing diabetes technology products.